In this video, experts from PracticeCFO located at San Diego, CA tell us why it is important for every doctor to have an economic plan for financial independence from day 1 and how they can help achieve the same by creating a financial plan. Experts at PracticeCFO take a lot of administrative work on themselves and also oversee how your retirement plan is set up and when and how you fund it. They also help you do your tax planning, file your taxes and simplify your financial life. PracticeCFO helps you rid yourself of your financial insufficiencies and become financially independent as well as help you create the perfect retirement plan for yourself so you can have the luxury of an early retirement date.

What we believe is that every doctor should have on Day 1 Really even in dental school especially as they get out of dental and medical school that on Day 1 they’ve got an economic plan for financial independence and I define financial independence as that point in life when you have enough assets of investments or real estate or business ownership or cash that will support your living expenses for the rest of your life factoring in inflation and so what we’re trying to help doctors do is have a plan, a financial plan to get there and hopefully get there early in life by balancing their consumption now that their consumption later in having a financial system.

As a client you should expect full serve on point of contact from your CFO advisor you know that advisor will be, will help you organize and implement a plan and help you through that as different changes and inflection points occur in your life and help you navigate the complexities of those behind that CFO advisor though as a team of tremendous specialists a team of CPAs and then the tax where book keeping as well of transitions if you’re working with practicing CFO in that manner and also investment specialists as well.

Beyond that we have you know wealth added you know third party service providers for payroll, insurance and other offerings that we align very well with but the service is all run through at one point of contact to provide an easy simple solution for you and you know for whatever your unique needs may be. So when you come in to us you should expect that we’re working to earn your trust and work in your best interest and we the other thing is to that we want you to feel like you’re part of our network, that we’re kind of family type atmosphere even though we have all the tools of a major corporation people come to us because of word of mouth, they trust us and we try to put our clients in touch with each other or in touch with vendors whatever they need we try to be a focal point so that you feel part of a collective, a group of providers who come to us or reach out to other people through us.

There’s really two primary advantages of having a centralized, a centralized source of your financial advice in a place like practice CFO. Number 1 is that a lot of the administrative work that you do, not all of it but a lot of it we’re able to take on ourselves, we’re able to oversee how you’re stretching your payroll we’re able to oversee how your retirement plan is set up and when you fund it and how you fund it we’re able to do your tax planning, we’re able to file your taxes, we’re able to give you advice in proper amounts of life and disability insurance for example and setting a budget, we’re able to help with all of that in one place and so that simplifies your life number 1 and number 2 is that when it’s coordinated together like that it creates, much better, a much better outcome for you because you getting rid of a lot of holes in the boat, a lot of inefficiencies that are created in our finances and ultimately that benefits you by you having an early retirement date or you becoming financially independent, that point in time when you can stop working if you want to because you have enough resources to take care of you for the rest of your life.

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